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Lesniak & Whelan Bill Allowing Internet Gaming Approved By The Senate

| 02/26/13 6:22pm

LESNIAK & WHELAN BILL ALLOWING INTERNET GAMING APPROVED BY THE SENATE

TRENTON – In response to the Senate’s vote to concur with recommendations made by the Governor on legislation (A-2578/S-1565) that would allow casinos in Atlantic City to legally offer Internet wagering to gaming consumers throughout the State, the bill’s prime sponsors Senators Raymond J. Lesniak, D-Union, and Jim Whelan, D-Atlantic, released the following statements today on the measure that now goes back to the Governor:

Senator Lesniak:

“Internet gaming is a significant win that will generate lasting economic benefits for the casinos, for Atlantic City and for the State of New Jersey. It will provide immediate benefits by extending a financial lifeline to the casinos that have been struggling with gaming losses in recent years, preventing some from closing their doors and allowing their workers to keep their jobs. It will be a boost for Atlantic City and for the state, generating new economic opportunities and new jobs for years to come.

“Online gaming can bring visitors back to Atlantic City and customers back to our casinos. An analysis by Wells Fargo Securities determined that Internet gaming would attract more visitors to the casinos, create more jobs and generate up to $1.5 billion in new revenue. Another study by Econsult says that New Jersey casinos would win back customers lost to competition from other states and that a new pool of customers would be drawn to Atlantic City. This will help restore financial stability and drive future growth.

“By capitalizing on this opportunity we are giving Atlantic City casinos the opportunity to be the ‘Silicon Valley of internet gaming’ and we are positioning them to be the hub of future expansion into other states. We can build on this to make sure that New Jersey is a leader in the gaming industry, that we continue to grow and add jobs and, at the same time, generate funding for the important services for seniors and the disabled that are supported by Atlantic City gaming.”

Senator Whelan:

“The New Jersey gaming industry, a vital part of Atlantic City’s economy, has taken heavy hits over the past few years as neighboring states have increasingly competed in the market. An innovative approach to wagering is essential to ensure that New Jersey’s gaming industry continues to grow and thrive and to protect the thousands of New Jersey jobs tied to the industry.

“Online gaming could be a real shot in the arm for Atlantic City by bringing thousands of high-tech jobs into the region and billions of dollars in revenue. With today’s approval of the Governor’s recommendations we are one step closer to ensuring the long-term stability of Atlantic City and gaming throughout the state.”